In a recent piece published by RISMedia, Generation Next, Sherry Chris—president and CEO of Better Homes and Gardens Real Estate—explores the Millennial generation, and our findings on who they are, what they want, and what they’re looking for in a real estate agent.
In the first installment of this Clean Slate two-parter, we spoke to three recent Millennial home buyers to learn firsthand whether their real estate experiences match what we found in our Better Homes and Gardens Real Estate national survey of 18- to 35-year-olds. Our conversations echoed those findings.
They had good jobs, but they all scaled down their expectations to secure a mortgage. None wanted a cookie-cutter house. They didn’t mind fixer-uppers. But each home buyer’s experience reveals a different insight into what this generation looks for in a real estate agent.
Text Me, Maybe
The couple who bought a house on a lake in Morris County, N.J.
George is a 27-year-old medical student who didn’t qualify for a loan due to his low income. He’ll earn a high salary in a few years after he graduates, but he and Tina, his 28-year-old girlfriend, didn’t want to wait.
Luckily, Tina has a job as a marketing manager. She secured a loan to purchase the $220,000 house, a 1940s-era bungalow near an enormous reservoir that she intends to fix up for around $25,000.
She owns the house. But they share the bills, paying around $500 less a month in mortgage payments and taxes compared to their prior rent.
What did Tina and George like about their REALTOR®? His loyalty and tenacity.
“He always tried to get me whatever he could from the seller,” says Tina. “He always had my back.”
Their REALTOR® communicated with Tina and George the way they wanted to be communicated with. They liked how he sent them text messages, e-mails and scanned PDF documents.
“He was very tech-savvy,” she says. “I didn’t have to get on the phone with him or fax things to him, which I loved.”
Seventh Time’s the Charm
Jess and her husband, Geoff — both 32 — also liked how their REALTOR ® was on their side. Both were concerned about agents trying to close a deal quickly to gain a commission.